Common use of Additional Security or Payment Clause in Contracts

Additional Security or Payment. The Borrower shall at all times ensure that the Borrowing Base exceeds the Disbursed Amount. If informed by the Lender or if the Borrower otherwise has actual knowledge that the Borrowing Base is at any time less than the Disbursed Amount, the Borrower shall, within five (5) Business Days, either (a) furnish additional security to the Lender, in form and amount satisfactory to the Lender and Eximbank, or (b) pay to the Lender an amount equal to the difference between the Disbursed Amount and the Borrowing Base.

Appears in 10 contracts

Samples: Borrower Agreement (Nicollet Process Engineering Inc), Borrower Agreement (Web Press Corp), Loan and Security Agreement (Packeteer Inc)

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Additional Security or Payment. The Borrower shall at all times ensure that the Borrowing Base exceeds the Disbursed Amount. If informed by the Lender or if the Borrower otherwise has actual knowledge that the Borrowing Base is at any time less than the Disbursed Amount, the Borrower borrower shall, within five (5) Business Days, either (a) furnish additional security to the Lender, in form and amount satisfactory to the Lender and Eximbank, or (b) pay apply to the Lender an amount equal to the difference between the Disbursed Amount and the Borrowing Base.

Appears in 1 contract

Samples: Borrower Agreement (Mobility Electronics Inc)

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